Stock Traders Buy High Volume of Ambac Financial Group Put Options (AMBC)

Ambac Financial Group, Inc. (NASDAQ:AMBC) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 5,994 put options on the stock. This represents an increase of Infinity compared to the average volume of 0 put options.

A number of research firms have issued reports on AMBC. MKM Partners reiterated a “hold” rating on shares of Ambac Financial Group in a report on Thursday, October 5th. BTIG Research reiterated a “buy” rating and set a $26.00 target price on shares of Ambac Financial Group in a report on Saturday, July 22nd.

Shares of Ambac Financial Group (AMBC) opened at $13.81 on Friday. Ambac Financial Group has a fifty-two week low of $13.17 and a fifty-two week high of $27.25. The company has a debt-to-equity ratio of 7.46, a current ratio of 0.38 and a quick ratio of 0.33.

Ambac Financial Group (NASDAQ:AMBC) last released its earnings results on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($4.22). Ambac Financial Group had a negative return on equity of 9.68% and a negative net margin of 60.33%. The business had revenue of $132.97 million for the quarter, compared to analyst estimates of $125.84 million. During the same quarter last year, the company earned $3.23 earnings per share. Ambac Financial Group’s quarterly revenue was down 8.3% compared to the same quarter last year.

In related news, CEO Claude Leblanc acquired 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were purchased at an average cost of $16.64 per share, for a total transaction of $249,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its position in shares of Ambac Financial Group by 30.2% in the 3rd quarter. Wells Fargo & Company MN now owns 85,388 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 19,795 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ambac Financial Group by 79.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 203,456 shares of the financial services provider’s stock valued at $3,535,000 after purchasing an additional 90,343 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Ambac Financial Group in the 3rd quarter valued at approximately $190,000. Russell Investments Group Ltd. increased its position in shares of Ambac Financial Group by 14.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 143,487 shares of the financial services provider’s stock valued at $2,477,000 after purchasing an additional 17,752 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Ambac Financial Group by 65.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,473 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 9,650 shares during the last quarter. 72.93% of the stock is currently owned by institutional investors.

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Ambac Financial Group Company Profile

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

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